Hertz Global Holdings Moves Higher Amid Carl Ichan's Increasing Stake

Hertz Global Holdings, Inc. HTZ surged higher in aftermarket trading Tuesday amid investor Carl Icahn increasing his stake in the company.

The news comes a few days after Jana Partners indicated that it may have interest in changing the company’s board of directors.

According to Reuters, Icahn “raised his stake in U.S. car rental company Hertz Global Holdings Inc to 10.77 percent from 8.48 percent.”

As of Wednesday, the stock traded at $25.65 in the pre-market, up 1.58 percent.